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Approaching Support

GBPUSD TECHS
  • RES 4: 1.4001 High Jun 23
  • RES 3: 1.3983/90 High Jul 30 / 61.8% of the Jun 1 - Jul 20 sell-off
  • RES 2: 1.3958 High Aug 4
  • RES 1: 1.3913 High Sep 14 and the intraday bull trigger
  • PRICE: 1.3741 @ 20:40 BST Sep 17
  • SUP 1: 1.3727 Low Sep 8 and key short-term support
  • SUP 2: 1.3680 Low Aug 27
  • SUP 3: 1.3602 Low Aug 20
  • SUP 4: 1.3572 Low Jul 20 and the bear trigger

GBPUSD weakened Friday and remains below last week's high. Recent activity has defined key short-term resistance at 1.3913, Sep 14 high where a break is required to confirm a resumption of the recent uptrend. This would open 1.3958, Aug 4 high ahead of a key resistance at 1.3983, Jul 30 high. On the downside, support to watch is at 1.3727, Sep 8 low. A break would be bearish and signal a resumption of the downleg that started early June.

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